Regal Towers
27000-27600 Franklin Rd,
Southfield, MI 48034
1-3 Beds | $779 - $1,509
Rental Market Trends in Southfield, MI
What is the average rent in Southfield, MI?
$1,146/month
Average Rent
834 Sq Ft
Average Apartment Size
+4.2%
Increase in the Last Year
As of December 2024, the average rent in Southfield, MI is $1,146 per month. This is 27% lower than the national average rent of $1,560/month, making renting in Southfield more affordable than most cities in the US. When you rent an apartment in Southfield, you can expect to pay about $943 per month for a studio, $1,146 for a one-bedroom apartment, and around $1,452 for a two-bedroom apartment. If you opt for a three-bedroom rental, you could pay $1,882 or more.
Floor Plan Type
Average Rent
Average Sq Ft
Floor Plan Type
Average Rent
Average Sq Ft
Floor Plan Type
Average Rent
Average Sq Ft
Floor Plan Type
Average Rent
Average Sq Ft
How much has average rent changed in Southfield, MI?
In the past year, rent has increased by 4.2%, which averages out to $49 more per month.
Market Trends Over Time
The chart below compares average rent prices to the previous year during the same time period.
Last Updated December 2024
Legend
2023
2024
Rent Ranges in Southfield, MI
Last Updated December 2024
$1,001 - $1,500
Most rental prices fall within this range
Percentage*
Rent Range
0%
Below $700/month
7%
$700 - $1,000/month
61%
$1,001 - $1,500/month
28%
$1,501 - $2,000/month
5%
Above $2,000/month
Rent by Neighborhood
Last Updated Today
What are the most affordable neighborhoods in Southfield?
Based on current rent prices, Southfield Downtown is the most affordable neighborhood in Southfield.
Neighborhood
Average Rent
Average Sq Ft
What are the most expensive neighborhoods in Southfield?
Based on current rent prices, Southfield Downtown is the most expensive neighborhood in Southfield.
Neighborhood
Average Rent
Average Sq Ft
Which Southfield neighborhoods have the most rentals available?
The neighborhood in Southfield with the most apartments available is Southfield Downtown .
Neighborhood
Average Rent
Average Sq Ft
What salary do I need to live comfortably in Southfield, MI?
Because the average rent in Southfield is $1,146, you’ll want to make about $3,820 per month or $45,840 per year. The general guideline is to pay no more than 30 percent of your monthly income on rent. However, you’ll want to consider additional factors, such as your monthly bills and other expenses. Use our rent affordability calculator to help determine how much to budget for rent.
How does Southfield, MI compare to other nearby cities and neighborhoods?
Use the tool below to compare Southfield, MI to other nearby cities and neighborhoods. The Apartments.com neighborhood guides provide you with insight into the area’s transportation, things to do, and more.
Studio
$803/month
$803/month
One Bedroom
$1,203/month
$1,203/month
Two Bedroom
$1,427/month
$1,427/month
Three Bedroom
$1,633/month
$1,633/month
Nearby City Rent Trends
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Methodology
† Rent data is provided by CoStar Group’s Market Trend reports. As the industry leader in commercial real estate information, analytics, and news, CoStar conducts extensive research to produce and maintain a comprehensive database of commercial real estate information. We combine this data with public record to provide the most up-to-date rental information available.
* Percentages may not total 100 due to rounding.